Police arrested two men following a raid on a drug warehouse, where officers seized approximately 520 kilogrammes of suspected cocaine, valued at over HK$430 million.

Officers intercepted the men at a residential building in Tseung Kwan O on Sunday, discovering two kilos of cocaine in one man's bag, along with an additional 518 kilos in their unit.

Senior Inspector Tong Wai-kwok, from the Narcotics Bureau, said the cocaine was suspected to have been smuggled into the city from South America via shipping freight.

"The drug trafficking group simultaneously rented a unit in Kwai Chung, where they used legitimate logistics companies to transport drugs arriving in Hong Kong to the Kwai Chung unit for processing," he said.

"There, over 1,500 boxes of frozen goods were inspected, and some cocaine concealed within was extracted, repackaged, and disguised as regular cargo. The drugs were then transferred to a private residential unit for storage and distribution."

Tong said the group frequently changed locations through different logistics and transport companies to evade detection.

Chief Superintendent Ng Kwok-Cheung said the two men, aged 22 and 23, were unemployed and likely committed these crimes to make money quickly.

The two men were arrested for drug trafficking, and the case will be brought to the Kwun Tong Magistrates' Courts on Wednesday.